TransAKTís Acquisition of Vegfab Agricultural Technology is Now Closed
Las Vegas, Nevada--(Newsfile Corp. - August 7, 2012) - TransAKT Ltd. (OTCQB: TAKD) (“TransAKT”) today announced that all conditions to close its previously announced proposed acquisition of Vegfab Agricultural Technology Co. Ltd. (“Vegfab”) have been met and the formal closing in Taiwan was completed on July 26. TransAKT will start booking revenues immediately and investors will start seeing results this year.
“We acquired all of the issued and outstanding shares of Vegfab.” explains James Wu, chairman of TransAKT. “We had entered into an Asset Purchase and Sale Agreement dated May 3, 2012 among our company and Vegfab, however the parties elected at closing to instead proceed with an acquisition of the issued and outstanding shares of Vegfab.”
TransAKT is a global distributor of LED lighting products focused on serving the fastest growing market of commercial, hospitality, and outdoor lighting. TransAKT's wholly-owned subsidiary Taiwan Halee International (HTT) distributes telecommunications equipment to over 650 outlets in Asia and has exclusive distribution agreements with several leading manufacturers. In addition, HTT develops and markets a robust product line that integrates advanced Wi-Fi and Voice-over-IP technologies. The Company's global corporate management team is based in Las Vegas, Calgary and Taipei. For more information about TransAKT please call 403-290-1744 or visit transaktltd.com.
This press release contains certain forward-looking statements and these forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including but not limited to, our limited operating history and history of losses, and our inability to compete effectively in the marketplace, and such other risks as identified in documents filed with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
James Wu, President (403) 290-1744
Christian Nielsen (403) 290-1744